Andy the Actuary Posted July 21, 2009 Posted July 21, 2009 Apparently, in an argument against the use of sex-based premiums, the state of Maryland's actuary argued: "We cannot conclude from data showing that women as a group live on average longer than men as a group that any individual woman lives longer than a man of the same age*." An extrapolation of this argument would suggest that using any mortality table for any individual actuarial calculation has no basis. Certainly, because a mortality table shows a 1% mortality rate at age 65 does not mean a particular individual has a 1% chance of croaking. *p 249, True Odds, James Walsh, Merritt Publishing, 1996. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
david rigby Posted July 21, 2009 Posted July 21, 2009 A pretty horrible quote from an actuary. Perhaps that actuary has forgotten that no matter what social manipulation you push, it won't change the reality of longevity. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
jpod Posted July 21, 2009 Posted July 21, 2009 Sounds like someone didn't wish to risk the mortality of his or her job (pun intended).
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